AVPT vs FTNT: Correlation
AvePoint, Inc. (AVPT) and Fortinet (FTNT) show a moderate relationship: their 3-year correlation of weekly returns is 0.49.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVPT and FTNT?
Over the past 3 years, AVPT and FTNT moved with a correlation of 0.49, which is moderate. Little has changed lately, as the 1-year reading of 0.52 lands near the 3-year figure. Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 850.5 %².
Within AVPT's tracked universe of 25 assets, FTNT comes in at #10 by 3-year correlation. The last year tells two different stories: FTNT led by 130.6 percentage points, -9.5% for AVPT against +121.1% for FTNT.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AVPT vs FTNT: side by side
| AVPT (AvePoint, Inc.) | FTNT (Fortinet) | |
|---|---|---|
| 1-year return | -9.5% | +121.1% |
| 5-year return | +57.7% | +170.5% |
| Volatility (ann.) | 41.3% | 42.1% |
| Beta vs S&P 500 | 1.18 | 1.02 |
| Max drawdown (3Y) | -55.0% | -35.1% |
| Market cap | $3.0B | $126.8B |
| P/E (trailing) | 42.1 | 60.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | AVPT | FTNT |
|---|---|---|
| 2022 | -34.7% | -32.0% |
| 2023 | +99.8% | +19.7% |
| 2024 | +101.1% | +61.4% |
| 2025 | -15.9% | -16.0% |
| 2026 | +3.0% | +117.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVPT and FTNT good diversifiers for each other?
Reasonably. At 0.49, AVPT and FTNT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AVPT and FTNT?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.52 over the last year and 0.44 over 5 years.
Is FTNT a good diversifier for AVPT?
Reasonably. At 0.49, AVPT and FTNT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 mean?
A reading of 0.49 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/avpt-vs-ftnt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/avpt-vs-ftnt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AVPT correlations · FTNT correlations
